507 E BROADWAY Road, Phoenix, AZ 85040
New Listing
$950,000
Property Type:
Comm/Industry Sale
Square Footage:
1,824
Lot Size (sq. ft.):
13,650
Status:
Active
Current Price:
$950,000
List Date:
3/11/2026
Last Modified:
3/11/2026
Description
Prime Investment with Rare C-3 Zoning. Excellent opportunity to acquire a high-visibility commercial property generating strong income with a 6% cap rate. The 1,814 SF building is leased to an established auto repair tenant at $5,500/month, providing stable cash flow. Property has been recently remodeled and features a new roof, minimizing near-term capital expenses. Includes three exterior service bays with two lifts and ample parking. Located in a busy corridor with highly desirable and hard-to-find C-3 zoning, allowing for a wide range of commercial uses and long-term flexibility for investors or future redevelopment.
More Information MLS# 6996798
Contract Info
Ownership: Fee Simple
Current Price: $950,000
List Price: $950,000
Status: Active
List Date: 2026-03-11
Location, Tax & Legal
Assessor's Map #: 37
Legal Description (Abbrev): LOCH PLACE ANNEX E2 LOT 81 EX N 7' & ALSO E2 LOT 82
Assessor's Parcel #: 83
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 115801
Taxes: 8621
Legal: LOCH PLACE ANNEX E2 LOT 81 EX N 7' & ALSO E2 LOT 82
House Number: 507
Compass: E
Street Name: BROADWAY
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Zip4: 2116
County Code: Maricopa
Subdivision: LOCH PLACE ANNEX
Assessor Number: 113-37-083-A
Tax Year: 2025
General Property Description
Type of Property: Free Standing
Ttl Apx SqFt Bldg: 1824
# of Buildings: 1
Uncvrd Parking Spcs: 20
Stories: 1
# of Interior Levels: 1
Year Built: 2000
Zoning: C-3
Currently Not Used
Sold Price Per SqFt: 520.83
Legal Info
Range: 3E
Section: 29
Township: 1N
Lot Number: 81
Construction
Block: 1
Wood Frame: 1
Roofing
Composition: 1
Floors
Concrete: 1
Bay Info
# of Bays: 3
Bay Door Height: 14
Income & Expenses
Annual Wtr/Swr Exp: 300
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 8921
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 66000
Building Type
Commercial: 1
Business Type
Automobile: 1
Pmt & Rate Info
Cap Rate: 6
Equity: 950000
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Ceiling Height
10.1 Feet to 12 Feet: 1
Heating
Electric: 1
Cooling
Office A/C: 1
Interior Features
Smoke Detector(s): 1
Loading Facilities
None: 1
Source of Fincl Data
Owner: 1
Fencing
Block: 1
Security: 1
Water Source
City Franchise: 1
Sewer
Septic Tank: 1
Parking Features
Fenced: 1
Electric
SRP: 1
Gas
None: 1
New Financing
Cash Only: 1
Existing 1st Loan
Treat as Free&Clear: 1
Reports/Disclosures
None: 1
Environmental
None: 1
Remarks Misc
Cross Street: Broadway, 7th Street
Directions: West on Broadway to property
Geo Lat: 33.406387
Geo Lon: -112.066941
Income Expenses
Gross Annual Sch Inc: 66000
Net Operating Income: 57000
Property Features
Building Type: Commercial
Business Type: Automobile
Construction: Block; Wood Frame
Roofing: Composition
Floors: Concrete
Ceiling Height: 10.1 Feet to 12 Feet
Cooling: Office A/C
Loading Facilities: None
Interior Features: Smoke Detector(s)
Fencing: Block; Security
Parking Features: Fenced
Electric: SRP
Gas: None
Water Source: City Franchise
Sewer: Septic Tank
New Financing: Cash Only
Lockbox Type: None
Source of Fincl Data: Owner
Existing 1st Loan: Treat as Free&Clear
Environmental: None
Listing Office:
Compass
Last Updated: March - 11 - 2026
Broker Attribution:
480-980-2244
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